Post
Topic
Board Altcoin Discussion
Re: rpietila Altcoin Observer
by
AnonyMint
on 02/09/2014, 22:31:31 UTC
Quote
Ring signatures are unwound when the tax authorities require you to provide your password to justify your tax basis.

Use more than 1 wallet? Plausible deniability is such a nice toy...

That doesn't address the issue. If tax authorities require you to prove your tax basis, then you must unwind the anonymity. When you unwind it, you reduce the anonymity set for everyone that mixed with you.

It would be much better to be able to say, "okay here is my password" and the authorities still can't unwind it. I know how to design this. You then say you've kept all records and complied, but the system is too anonymous and this is not your fault. They would have to make it illegal to use the system. If we get to that stage, it will be Mad max war of the people against the government.